Agreement For Division Of Property In Pennsylvania
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This Partition Agreement is an Agreement for the Partition and Division of Real Property. This is a Voluntary agreement to partition and divide real property. This Agreement can be used in any state. This Agreement is to be signed in front of a notary public.
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Step 1: Identify Your Assets. Identify all the property you and your spouse own jointly or individually, and make lists of both.This document covers divorce issues such as alimony, property division, and child support and custody. In Pennsylvania, the term "equitable distribution" is the legal term for the process of dividing the marital assets and marital debts. This agreement is intended to help the parties formalize an allocation of their property and finances. In Pennsylvania, only the marital property will be divided. The court presumes that any property you acquire during marriage is marital property. PA law requires divorcing couples to equitably divide the marital property. This means that the division of marital property should be based on fairness. A property settlement agreement becomes a legally binding part of the final judgment when your marriage is officially dissolved.